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October 8, 2014

Market Research & Analysis | Part Two

Market research is the gathering and evaluation of data regarding preferences for products, services, and brands. It’s a tool that is used to understand attitudes, perceptions, and behavior of potential or existing customers in various market segments. It is also used to identify and clarify segments that may provide the greatest opportunities for a company in the future.

Large brand consultancies typically have developed proprietary research tools to help global corporations develop brand strategy. Design firms often partner with a market research firm, and in many cases are provided with existing research reports about customer preferences of marketing segments.